Gu Yue: After reaching the peak and falling back, it continues to decline. Will the bearish trend continue?

CN
谷月
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3 days ago

Hello everyone, I am Gu Yue. Last week's market can be described as having significant ups and downs. Initially, there was a strong upward trend, breaking through to near historical highs, then hitting a peak and falling back to a low of around 67,000. Currently, it has stabilized around 69,000. Analyzing from the daily chart, it shows a bullish engulfing structure, with five consecutive bearish candles. The daily chart has reached the middle band support of the Bollinger Bands, and the MACD green energy bars are gradually increasing, with the DIF line crossing below the DEA line forming a death cross. The trend is gradually shifting from bullish to bearish compared to last week, and the K-line has moved down from the triangular area, indicating that the market is likely to decline further.

Ethereum's movement is somewhat different from Bitcoin's. While Bitcoin reached 70,000, Ethereum has not yet hit 3,000. Currently, the movements are not consistent and show significant lag, moving relatively slowly. On the 21st, the K-line formed a double top structure, followed by a rapid decline, dropping below 2,400 before rebounding to around 2,700, then forming a evening star and dropping again to around 2,400. The market continues to follow a downward path.

For Bitcoin, it is recommended to short around 69,000, with a target of 67,500-67,000 for profit-taking.

For Ethereum, it is recommended to short around 2,480, with a target of 2,420-2,400 for profit-taking.

There are many types of investments, and it is important to choose what suits you best. There are many paths, and choosing the right guide is crucial. I, Gu Yue, interpret world economic news, analyze global investment trends, and provide daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal views only and is for reference only, not to be used as a basis for actual operations. Market changes are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

Scan the QR code below to follow the public account for the latest consultations.

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